EvilSkuzzi
New member
Em, no.
Is anyone here "Cash Rich" ?
- Thread starter hunt4genetics
- Start date
Em, no.
yeah i been saving my cash for a few years now
gets cold around here in the winter months so we just burn it now to keep warm
gets cold around here in the winter months so we just burn it now to keep warm
oldbongwater
Member
God Help us is just an expression of frustration..i may just all well have said good gravy..it is pointless..i like you have invested a large portion of money into bullion. I choose to buy rare proof gold coins from the 1800's which not only have the intrinsic value of the gold itself, but the added value of rarity of low production numbers..less than 100..so like everything else, time will tell. The point of all of this is paper money will continue to decline and the rarities like precious metals will continue to increase. And if someone would like to continue down the path of credit card debt that's fine with me, but i'll stick with the proven winner for the last 5000 years..Gold..over and out..
Good Luck and Good Gravy
ob
variety is the spice of life, but i'll stick with BLOCKHEAD
Good Luck and Good Gravy
ob
EvilSkuzzi
New member
So you actually think the world governments should have let these multi nation banks fail?
GeneticHeirloom
Member
No money, perfect credit.
Oldbongwater: Gold Claim Land. No one's buying Gold Plots other than corporations. Gold's gone up infinitely higher yet for some reason I hear and see no one panning for gold. First thing I'm doing when I get money is buying a Very small gold mining claim from the early 1800-1900's with full surface and mineral rights with multiple creeks. and a $2grand mechanical Panner
Oldbongwater: Gold Claim Land. No one's buying Gold Plots other than corporations. Gold's gone up infinitely higher yet for some reason I hear and see no one panning for gold. First thing I'm doing when I get money is buying a Very small gold mining claim from the early 1800-1900's with full surface and mineral rights with multiple creeks. and a $2grand mechanical Panner
GeneticHeirloom
Member
Damned if you do, damned if you dont.
oldbongwater
Member
I'm sure that there are people out there panning but let's face it, most people are kinda lazy..panning for gold is too much like work. I know of people mining for diamonds in that park in Arkansas or wherever it is..and if you were to put in 6 or 8 hours a day with gold hovering around $1000 i'm sure you could make yourself $300 a day without putting in a lot of effort. I remember panning in Colorado as a kid for a few hours and coming up with a couple of small vials full of bits and pieces of Au (Gold)
ob
ob
GeneticHeirloom
Member
That's exactly what I'm thinking, buy a piece of land, set up a nice sleeping cabin and spend the summer panning my creeks. So much better than waking up and working for the man. I hate working for others, I love working for myself
H
h^2 O
that'd be sweet. Dude covered all the bases and has like Yens and Euros n sheet.yeah i been saving my cash for a few years now
gets cold around here in the winter months so we just burn it now to keep warm
ItsAllOver
Devil's Advocate
Less damned if you do, WAY MORE damned if you don't. Read a book on monetary history. I like John Kenneth Galbraith. These things are very obvious, but they are no longer common knowledge in today's society. I understand your feeling that letting them fail would fuck a lot of people, but I didn't make the mistakes they made! THEY DID! Fuck em! Why should I pay for it? I should be able to pick up their assets at pennies on the dollar when they fail and are liquidating and start a biz of my own learning from their mistakes and doing the RIGHT THING! LOL Peace
oldbongwater: Ok, glad to hear that... Good luck in the gold market, my man! It's looking good right now. Wonder why?...
H2O&Brother Bear: That guy did not cover his bases. His money is in a picture on the internet. He got fucked lol. That is a lot of money. (also, it should be a bunch of gold, but that's just my [educated] opinion)
EvilSkuzzi
New member
Im sorry but to have institutions like that fail would be the end of the western world lol. An entire elderly popualtion left with nothing. No pension, no income, nothing. Not to mention everyone else who would lose there lifes savings and jobs.
I think you might have some major civil unrest me thinks!
I think you might have some major civil unrest me thinks!
ItsAllOver
Devil's Advocate
EvilSkuzzi: Prove your claim from the post above.
The elderly population might not be so out of luck as you think, and surely the individuals left unaffected by this would be willing to help. There is such a thing as kindness, lol.
Job losses are a natural part of an economy, it's not such a bad thing. Austrian economists call the cause of this current crisis "malinvestment," and this can only be fixed through REinvestment of these same resources in different things. Not the same things. The current course of action to fix the problem is to perpetuate it, which only builds it further.
Surely civil unrest is to be expected, but I assure you we are only pushing it away a couple years, and guaranteeing inflation and the surely greater civil unrest that will come with that. I'm telling you it is well grounded in history. We cannot allow foolish activities to continue just because we are afraid of the cure.
Sure the medicine might taste bad, but you have to take it to get better. On that note, I suggest you do a google video search on the economist/investor Peter Schiff. I will make some recommendations if you'd like on particular viewing material, but I'm sure you'll find good stuff yourself. Look for the longer ones, like speeches he's given, as opposed to his appearances on the news. Those are important, too, and you should watch them for sure.
BTW: We are vastly OT. Should we start an (is that already one?) economic crisis thread? I'd love to have a place for discussion of that topic. I like IC because of the variation of topics!
The elderly population might not be so out of luck as you think, and surely the individuals left unaffected by this would be willing to help. There is such a thing as kindness, lol.
Job losses are a natural part of an economy, it's not such a bad thing. Austrian economists call the cause of this current crisis "malinvestment," and this can only be fixed through REinvestment of these same resources in different things. Not the same things. The current course of action to fix the problem is to perpetuate it, which only builds it further.
Surely civil unrest is to be expected, but I assure you we are only pushing it away a couple years, and guaranteeing inflation and the surely greater civil unrest that will come with that. I'm telling you it is well grounded in history. We cannot allow foolish activities to continue just because we are afraid of the cure.
Sure the medicine might taste bad, but you have to take it to get better. On that note, I suggest you do a google video search on the economist/investor Peter Schiff. I will make some recommendations if you'd like on particular viewing material, but I'm sure you'll find good stuff yourself. Look for the longer ones, like speeches he's given, as opposed to his appearances on the news. Those are important, too, and you should watch them for sure.
BTW: We are vastly OT. Should we start an (is that already one?) economic crisis thread? I'd love to have a place for discussion of that topic. I like IC because of the variation of topics!
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Alienate420
Member
I've got 30 100 dollar bills in an empty altoid box. Will this buy me a mine? I want in...
Seriously, that kind of autonomous, repetitive manual labor (hopefully in a secluded verdant spot) is just what I'm best at...it's what I'm doing now, but I'd like to add gold panning into the mix. At least I have enough for that machine...
Seriously, that kind of autonomous, repetitive manual labor (hopefully in a secluded verdant spot) is just what I'm best at...it's what I'm doing now, but I'd like to add gold panning into the mix. At least I have enough for that machine...
EvilSkuzzi
New member
ItsAllOver
Devil's Advocate
Haha that sounds great. Preferable for sure!
Also, I just reread a post of yours above, "So you actually think the world governments should have let these multi nation banks fail?"
I want to make a distinction that I find a lot of people missing that is very important, and you can keep this in mind when you are ready to respond. It is this.
The option that many people describe as "doing nothing" in response to the current crisis is actually not doing nothing. Government doing nothing is what I want. It allows the private sector to take the damage where it is due and to do something in response. Government doing nothing is actually something very profound. It is not a lack of response to a situation. It is the allowance for someone else to respond, and this is often very helpful.
Would you really rather have the "failure" shift from these corps to the government (and you and me, through them, because that is really what is going on)? Not me.
OK, stop smoking so much and respond, lol!
Take care. I'm off for lunch. I spend too much time on IC
Also, I just reread a post of yours above, "So you actually think the world governments should have let these multi nation banks fail?"
I want to make a distinction that I find a lot of people missing that is very important, and you can keep this in mind when you are ready to respond. It is this.
The option that many people describe as "doing nothing" in response to the current crisis is actually not doing nothing. Government doing nothing is what I want. It allows the private sector to take the damage where it is due and to do something in response. Government doing nothing is actually something very profound. It is not a lack of response to a situation. It is the allowance for someone else to respond, and this is often very helpful.
Would you really rather have the "failure" shift from these corps to the government (and you and me, through them, because that is really what is going on)? Not me.
OK, stop smoking so much and respond, lol!
Take care. I'm off for lunch. I spend too much time on IC
The Uncola
Member
I inherited some $200K from my grandfather back in 2001. I am currently unemployed and having to spend some of that money to pay the mortgage. I got busted for a DUI last year Got in with the wrong crowd who I have gotten rid of. I'm 45 and a single home owner. I put 20% down on a $200K house. Back when I was in college, Graduated with a BS in Biology- I couldn't get a credit card to save my life! Then came deregulation. I have no credit card debt. The bank keeps sending me Visa Credit cards. I have 3 of them with a combined credit limit of about $30K. The bank gave me a home equity line of credit for $37K. I didn't spend any of it. Then one day they simply announced that it was gone! Welcome to the horrible economy! I'm eating Tilapia instead of Sockeye Salmon, keeping a close eye on the money supply!
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hyDROJEDI
New member
Based on a personal story..
Sending 18 year old me an offer for 12k pre-approved mastercard ...32 cents
Me being 18...and having a magical card that got me anything i wanted ...$12,000
My grown up me in my mid 20s realizing that I was completely taken advantage of by predatory lending, realizing that not even the MOB charges %30 interest... seeing my debt being bought and sold like a horse by multiple third party collection agencies...... spending more time in fear about missing a minimum payment than thinking about LIVING ....and stopping paying any of it....PRICELESS
Other than having to change my cell number twice its been pretty good. The fico wont mean shT in 10 years. There are too many people with low scores, the banks wont ever be able to lend money again if they adhere to the 700+ AND no one is giving new credit to people with limited credit to build...and people with bad credit to rebuild.....the economy collapses..zombies attack..we all become undead..etc.
Sending 18 year old me an offer for 12k pre-approved mastercard ...32 cents
Me being 18...and having a magical card that got me anything i wanted ...$12,000
My grown up me in my mid 20s realizing that I was completely taken advantage of by predatory lending, realizing that not even the MOB charges %30 interest... seeing my debt being bought and sold like a horse by multiple third party collection agencies...... spending more time in fear about missing a minimum payment than thinking about LIVING ....and stopping paying any of it....PRICELESS
Other than having to change my cell number twice its been pretty good. The fico wont mean shT in 10 years. There are too many people with low scores, the banks wont ever be able to lend money again if they adhere to the 700+ AND no one is giving new credit to people with limited credit to build...and people with bad credit to rebuild.....the economy collapses..zombies attack..we all become undead..etc.
The Uncola
Member
I feel for you on the predatory lending thing. Right next to the grocery store where I live is a place selling Payday Loans. These places are simply Evil- possibly even worse than credit cards. Imagine that!
I don't even care about my credit rating. I've already bought a house. All I have to do now is keep it! I've never bought a new car. Every one of them has been used and a manual transmission as well. I bought my current vehicle from my Brother in Law for $700! Strange But True! It's a Toyota Pickup.
When is the US economy going to recover? According to a number of articles I've read-
NEVER! Outsourcing- sending all our manufacturing jobs to third world countries is called "The Race To The Bottom". We won't soon recover from this. I'm getting used to being broke. This is the new America!
I don't even care about my credit rating. I've already bought a house. All I have to do now is keep it! I've never bought a new car. Every one of them has been used and a manual transmission as well. I bought my current vehicle from my Brother in Law for $700! Strange But True! It's a Toyota Pickup.
When is the US economy going to recover? According to a number of articles I've read-
NEVER! Outsourcing- sending all our manufacturing jobs to third world countries is called "The Race To The Bottom". We won't soon recover from this. I'm getting used to being broke. This is the new America!
ItsAllOver
Devil's Advocate
Post removed, fuck it.
